Access Scientific, LLC, a leading provider of extended dwell and midline catheters, announced the signing of a sales agreement with Smiths Medical to sell the POWERWAND™ product line in the United States. The POWERWAND product line helps Smiths Medical extend their vascular access product portfolio into the extended dwell and midline catheter categories – the fastest growing devices within the vascular access device segment (valued at $1.6B1).
The POWERWAND is viewed as a clinically superior product, supported by seven (7) peer reviewed papers and nine (9) scientific posters. These studies have documented over 35,000 catheter-days with ZERO bloodstream infections and have shown the POWERWAND may contribute to reduced overall CLABSIs and generate significant cost savings‡. The most recent peer reviewed publication, released this past January in a Dove Medical Press journal, helps explain why the POWERWAND may have achieved some of its unparalleled results. Comprised of ChronoFlex C® with BIoGUARD™, it is the only non-coated and non-impregnated catheter in the market that has been shown to inhibit bacterial attachment (in vitro) as compared with the standard polyurethane used in most intravenous catheters2. With growing concern around patient risk and cost burden associated with catheter-related bloodstream infections, the POWERWAND offers superior value to healthcare providers looking to offer quality care at lower costs.
“With the growing emphasis on quality of care and the increased financial penalties associated with hospital acquired conditions (HACs), hospitals are seeking products that help them achieve better clinical outcomes and reduced costs. These outcomes include reduced catheter-related bloodstream infection rates, improved patient satisfaction and lower overall costs — this is why demand for our POWERWAND catheter products is at an all time high. Partnering with Smiths Medical allows us to reach a broader market, ultimately helping improve the lives of more patients,” said Jeff Goble, Access Scientific’s CEO.
To expand marketing and sales of POWERWAND in association with the Smiths Medical relationship, Access Scientific has secured $20M in additional capital funding from existing shareholders and a new long term credit facility. This new funding allows Access to further invest in product development, increased production capacity and expanded sales & marketing efforts.